Name of Customs Laws

There are 2 laws of Customs

• The Customs Act, 1962-containing procedure of Customs
• The Customs Tariff Act, 1975 –containing rates of Customs Duty

There are 2 schedules in Customs Tariff Act

• First Schedule-Contains goods liable to import duty
• Second Schedule Contains goods liable to export duty

Different rates of duties?

There are 2 types of rates in Customs

• P r ef e r e nt i a l r a t e o f d u t y
• S t an d ar d ra t e o f d ut y

If goods are are imported from the p r ef e r e nti a l a r ea s [a s notified by the Central Government] , then a lower preferential rate of duty will be applicable

Otherwise, standard rate will be applicable.